Pharmacies - Niger | Statista Market Forecast

The revenue in the Pharmacies market in Niger is forecasted to reach US$197.70m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.65%, leading to a market volume of US$248.10m by 2029.
Among all countries, United States is projected to generate the highest revenue in the Pharmacies market, amounting to US$387.30bn in 2024.
When considering the total population, the per person revenues in Niger are estimated to be US$7.00 in 2024.
Despite facing challenges such as limited access to healthcare, Niger has seen a growing trend of pharmacies expanding their services to reach remote areas.

Definition:
Pharmacies are physical or digital places where mainly pharmaceuticals and medical products are sold. Additionally, they also sell other items that are generally found in a pharmacy, such as food supplements, cosmetic products, and other health-related goods. A large proportion of pharmaceuticals are only available on prescription; the rest of the product range of pharmacies is sold over the counter (OTC). Besides selling products, pharmacies also advise customers, inform them about undesirable effects of the products, and detect possible interactions with other medicines.

Structure:
The Pharmacies market consists of two markets: Prescriptions Drugs and OTC Products. The Prescription Drugs market covers all products – mainly pharmaceuticals – that are only available on prescription. The OTC Products market comprises all products that are sold over the counter (OTC), including pharmaceuticals, medical devices, and other items that are generally found in a pharmacy.

Additional information:
The KPIs shown include revenue, revenue growth, average revenue per pharmacy, average revenue per capita, number of pharmacies, pharmacy density, users, and the online sales share for the OTC Products market. Revenues are generated through offline and online spending by (B2C) consumers and include VAT. B2B and B2G sales as well as other pharmaceutical sales through hospitals or retail stores, such as supermarkets, are not included.
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Prescription pharmaceuticals
Prescription medical products
OTC pharmaceuticals
OTC medical products
Pharmacy-usual items

Services such as vaccinations
Sales through hospitals or retail stores

The Pharmacies market in Niger has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this development. Customer preferences play a crucial role in the growth of the Pharmacies market in Niger. Consumers in Niger are increasingly seeking convenience and accessibility when it comes to healthcare services. Pharmacies provide a one-stop solution for various healthcare needs, including prescription medications, over-the-counter drugs, and health consultations. This convenience factor has led to an increased demand for pharmacies in Niger. Trends in the market further support the growth of the Pharmacies market in Niger. The healthcare sector in the country has been witnessing advancements and improvements, leading to better access to healthcare services. This has resulted in an increased demand for pharmacies as people seek reliable sources for their healthcare needs. Additionally, the rising prevalence of chronic diseases and the aging population have also contributed to the growth of the Pharmacies market in Niger, as these factors drive the need for regular medication and healthcare products. Local special circumstances also play a role in the development of the Pharmacies market in Niger. The country has a relatively low doctor-to-patient ratio, which means that pharmacies often serve as the first point of contact for healthcare advice and treatment. This reliance on pharmacies for primary healthcare needs has further fueled the growth of the market. Additionally, the government of Niger has been taking steps to improve the healthcare infrastructure in the country, including the expansion of healthcare facilities and the promotion of access to essential medicines. These initiatives have created a favorable environment for the growth of the Pharmacies market. Underlying macroeconomic factors have also contributed to the development of the Pharmacies market in Niger. The country has been experiencing steady economic growth, which has resulted in an increase in disposable income and improved living standards. As a result, people are more willing to spend on healthcare products and services, including medications from pharmacies. Furthermore, the government has implemented policies to promote the pharmaceutical sector, such as the reduction of import duties on pharmaceutical products. These measures have attracted investment in the sector and have further stimulated the growth of the Pharmacies market in Niger. In conclusion, the Pharmacies market in Niger is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience provided by pharmacies, advancements in the healthcare sector, reliance on pharmacies for primary healthcare needs, and favorable government initiatives have all contributed to the development of the market. With the continued focus on improving healthcare infrastructure and the increasing demand for healthcare services, the Pharmacies market in Niger is expected to continue its growth trajectory in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.